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to do beside watching a nuisance headlines coming out of washington? traders at the new york stock exchange, what a day today. some better games at the moment but again a perfect example of how washington is holding the market. >> you talk about how sensitive the market is right now. looking at washington, putting earnings season besides us. all coming down to the last 32 days of the year and what is its going to happen in washington. anytime we hear anybody making any comments, it is going to move the market. like you saw on that chart, who is saying what and when, clearly that shows it is all about getting in front of the camera, getting out in front of the public making sure the public understands where everybody stands. they will stretch this one out as long as they can, the drummer will unfold, we will watch the miniseries play out on live tv. it will come to the same path and figure it out before the end of the year. tracy: we should have our viewers name the intraday chart. i cannot believe this, 32 days, we have to live with this war true fundamentals, make your picks. >> t
to have you. >>> in the wake of the 2010 midterm elections, a fight broke out in washington over what had been a routine piece of washington business. republicans threatened to vote to force the country to default on its loans. this he were not going to raise the debt ceiling, remember. president obama responded in a prime time address to the nation. he asked the american people to get involved in that fight he was having with the republicans. he asked the american people to get involved directly. >> the american people may have voted for divided government but they didn't vote for a dysfunctional government. so i'm asking you all to make your voice heard. if you want a balanced approach to reducing the deficit, let your member of congress know. if you believe we can solve this problem through compromise, send that message. >> let your member of congress know. send that message said the president. the american people did. so many american people did that congressional websites and phone lines crashed after the president's speech. house phone circuits were so overwhelmed that an alert went
of lottery going on in washington. they're playing with our money. we're going to find out shortly if two parties can agree on a way to keep this country from falling off what is referred to for good reason as a "fiscal cliff,". there were sporadic outbreaks of bipartisanship, no real compromise yet. but the issues are tough and will affect every single american before it is over. we'll take a closer look on how it could impact medicare in just a moment. first we want to begin with white house political director chuck todd, good evening. on where things stand at the negotiating table, good evening >> reporter: today, washington had the feel of a full-blown election campaign. there were props. there were gimmicks and heated political rhetoric from one end of pennsylvania avenue to the other, all over the so-called fiscal cliff. redeploying the campaign image, the president surrounded himself with what he called average middle class families, to ramp up the pressure on the republicans. >> if congress does nothing, every family in america will see their taxes automatically go up at the begin
's play "hardball." >>> good evening i'm chris matthews in washington. let me start with this war in washington. say what you will about the election we just had. this one's hotter, nastier, more personal. one side says it's about character, about whether a close confederate of the president told the truth, the whole truth as she knew it when she went on national television and said the death of a u.s. ambassador was a spontaneous reaction to an anti-muslim video, some trouble-making clown made out in california. ignoring john mccain and his ail argue evidence it was an organized act of terrorism. not so says the president. his u.n. ambassador and close friend simply told the truth as she was permitted to tell it, what the cia gave her to say and no more. for that he charges susan rice, in the words of the new york post, being fried. political fight fans on the tabloids relish this extreme combat what should be a good person's judgment? that's my question tonight. is susan rice now a surrogate for the president, someone to take the punishment when others above her pay grade should
that spread to washington in era we're told with ongoing fiscal talks they might be weighed more towards tax hikes than spending cuts. we thought we would be fair and balanced about this with two california governors, a democrat and republican. you should recognize both. democrat gray davis and republican pete wilson. good to have you. >> thank you, neil. >> good to be with you, neil. neil: thank you, governor davis. since you're not with me, governor davis, in the studio here but governor wilson is i'm going to him first. the thing i will raise with you, governor wilson, what i'm noticing going on in this state. clearly a pickup in activity. things getting a little bit better the by point of comparison that is off a horrible environment but it is still getting better. it is getting better because taxes are going to go up? >> good god no. that's not going to help things. it will make them worse. and there is a mild improvement. i would hope for a strong improvement. i don't expect to see it. and what has just been done is not going to improve things. sadly, it will make california even less
sticks and stones? well, words may not hurt you but word from washington are once again spooking the markets. just look at that dip right before noon. how do you protect your money from the washington speak? >>> daily deals turning to daily duds. living social announces layoffs. groupon's board discussing the future of its ceo. is time running out on those daily deal websites and their business model? >>> and, the hottest tech trends of 2013. we'll show you how you can cash in today. i'm happy to be back from washington. i'm happy sue herera is at the center of the action -- i'm just a happy guy, sue. i'm glad to have you back, too. >>> it happened just before noon. once again the markets tanking, a steep dive after discouraging words from washington on the state of the fiscal cliff. this time it was house speaker boehner speaking with reporters after meeting with treasury secretary tim geithner. eamon javers is in washington with the latest. eamon, the sentiment down here is these guys should stop talking and start crafting a deal. >> reporter: that's the sentiment here in the h
to avoid that fiscal cliff. tracy pots joins us from washington with all the details. good morning to you. >> good morning, everyone. a number of high level but individual meetings scheduled here today on capitol hill with really just a handful of lawmakers who could have a big impact on your paycheck. tim giter in and rob neighbors bring the deficit cutting plan to capitol hill today. >> reporter: negotiators are meeting with boehner and top democrats. they heard the plan wednesday at the white house. at least one thinks there could be a deal here. >> if i were involved in the negotiations like this and everybody was purporting to be where they are, i would say that an agreement is reachable. >> i'm hopeful. it wouldn't put me anywhere near optimistic. >> reporter: one conservative is suggesting that while negotiations continue, congress should stop tax rates going up on the middle class now. >> we're not going to raise taxes on those people. i think we should make that clear to everybody. >> reporter: bottom line, no deal yet. both sides are still talking. and both sides signalling that
and washington state. you can see the next one is already making its way onshore, and we are looking at heavy rain, especially across northern california. you can see a closer look. that band of heavy rain just to the west of northern california, that's going to move onshore, and we are going to see a series of these rounds of heavier pockets of rain move in, especially this afternoon. winds will get gusty as well. we had a lot of delays yesterday because of the bad weather out in california. we will most likely see more of those today. look at some of the expected rainfall totals over the next 48 hours. we could end up with some parts of northern california, just north of redding, possibly picking up more than a foot of rainfall out of this system, and it does look like that will continue for most of the week. lynn? >> dylan, thanks so much. >>> and for the rest of us, it was another day of facing the fiscal cliff. white house negotiators head to capitol hill today. they're going to sit down with congressional leaders and talk about specific proposals from both sides for an agreement to avoi
is now going to get characterized. good morning from washington. it's thursday, november 29, 2012. in case you've been in a bunker all night, the winning powerball numbers are 5, 16, 22, 23, 29. the powerball number itself is 6. the reason i'm here and the reason my entire staff showed up for work today is because nobody here won. let's get right to my first reads of the morning. this morning, mitt romney comes to washington. the last time president obama and romney came face to face they were locked in a bitter fight for the presidency. today they'll try to bury the hatchet as the president makes good on his election night promise to engage with romney, one' elaborated on in his first post election news conference. >> i do think he did a terrific job running the olympics. he presented some ideas during the course of the campaign that i actually agreed with and so it would be interesting to talk to him about something like that. >> this is a meeting, it's safe to say neither the president or romney is thrilled about doing. but they're doing it because it's the right thing to do af
. welcome back. i'm bill griffeth. we're going to get to those wild statements out of washington in a minute. you can see when they happen when we show you today's chart. speaker boehner's comments pushed the market lower. then other comments brought them back a little bit. the dow is up just 45 points right now at 13,030. the nasdaq also trading higher today. last i checked, it was up 21 points. there it is at 3,013. that's about the high for the session. the s&p is up about seven points at 1416. >> a bit of a roller coaster ride today after fiscal cliff comments from both parties. >> eamon javers on capitol hill is following the drama, which changes moment by moment. >> absolutely, bill. it's been a bit of a roller coaster ride, as you say, on capitol hill with duelling press conferences today. follow along with me here on what each person said from each party and how that impacted the market, starting with speaker john boehner. here's what he had to say early in the day. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real
-democracy? those rebels, this is not george washington at valley forge. these are not necessarily people who want to establish a democracy and rights of all individuals. dagen: kc mcfarland. connell: $5 billion in education cuts, if there is no debt deal with another part of this we will take up with union leader randy wine garden in a few minutes. dagen: john boehner meeting with the treasury secretary right now about trying to broker some deal. we will hear from john maynard this hour and you can catch it here. look at the oil market again, tensions rising in the least and the price of oil rising as well, $80 a barrel. you know how painf heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. dagen: you want to make money? that guy is not connell mcshane. [talking over each other] connell: rather make money while we sleep which putting somebody to sleep -- charles: i like temperature edict. the housing come back, e
of the rnc, michael steele, in washington anchor for bbc "world news america," katty kay. >> "way too early" with bill karins. >> i'm going to say it again, a star was born. >> don't you think? >> i mean, just elegant, on the money. >> yes. >> glib in the right kind of way, gravitas, all there. >> i love it. >> awake. >> awake. >> that's always helpful. >> the guy who used to do it before, the tall guy, you know that one? >> a little droopy. >> rarely showed up for work. and when he did, it didn't look like he was all there, quite frankly. also, bill karins, of course, the big story of the day, the powerball. $550 million, something like that. did anybody buy a ticket? >> no. >> yeah. i did. but i'm still here which means i didn't win. if i did, out the door. >> 1 in 175 million chance. >> it's a loser's game. >> oh, steve. >> do you have charts? >> steve, what are you saying? loser? willie, didn't you? >> i did, last night. >> i will say an interesting sidebar, i used to do advertising for publisher's clearinghouse. without exception, the people that got the $25 million prize, destroyed th
of the political art here, i'm in washington but i would say if you had these points of views in a business context, as close as they are, i would say a deal would be in reach. >> you see some fundamental level of optimism from lloyd blankfine but a long way to go with the combination of prief pressure and public pressure, like the president is going to exert before we actually go to the flight of fired. i asked the treasury secretary should the president return to wall street. he it must be someone who understands markets, marry. >> me have 33 days to -- head of all pi he told john harwood. marge i will hates have to go up somewhat. he said that's going to put a drag on the economy but we have to do something about the deficit. i don't really understand reasonings. i think he needs to go back to economic then i would argue the deficit gets worse because the revenues don't come in because the unemployment rate goes up. >> you're absolutely right. france instituted a 75% marginal tax great early last night grease going we've got to make sure we're getting gross right if we want to face the deficit.
in washington over a move that the president hasn't even made yet. as you may have heard he's reportedly considering nominating susan rice to replace hillary clinton as secretary of state and already the republicans are on the offensive. they need to come out strong, because they're in the senate minority next term 55-45. the dems need 60 vote to overcome republican fill buster, so they need five republicans to join them if they want to confirm rice. republicans stall worth john mccain and lindsey mccain have come out strongly against her citing the benghazi attacks and her remarks. today, moderate republican susan collins indicated that she might feel similarly. collins and republican senator bob corker had a 75 minute meeting with rice and afterward they still don't sound convinced. >> i still have many questions that remain unanswered. >> there's a handful of people that the president surrounds himself with that all of us hold to a very different level, and the secretary of state no doubt is one of those. we want someone of independence. >> well, president obama and secretary clinton
in america, and then you have this washington battle that appears intrangient as it has ever been. meanwhile, the debt rises to $16 trillion. >> i hoped that the president would say this, he has not, as yet. and i'm not holding my breath any longer, giving the clip you just showed. but the short answer, fiscal cliff is really just a masquerading of austerity, it is austerity in disguise. and the president and those of us who care about the future of this country in terms of this gap between have gots, and have notes, this is just austerity, they want to now basically scare those americans who are already on the short end of the stick with this conversation about a fiscal cliff. when the reality is that millions of americans have already gone over the fiscal cliff. and so this is a conversation that in some regards is a waste of time in washington, we ought to be talking about creating jobs and not about deficit reduction. it troubles me when the president himself even seems to go for that line about deficit reducti reduction. it ought to be about job kraeks. >> is he being bold enough? becau
, a short time ago vice president biden went to a local costco here in washington, d.c., proclaimed himself optimistic they would get a deal. the fact of the matter yesterday, erskine bowles, a key player as well, saying he is slightly pessimistic. he says there is 2/3 chance they will go off the fiscal cliff. that is not what the markets want to hear, jon. jon: not at all. ed henry at the white house. if jay carney relents and let you into the meeting give us a shot. we'll be on air. >> reporter: i will give you a copy of the menu. jon: please do, thanks. jenna: we'll forget about politicians just for a moment. i promise we'll return there surely over the next couple hours. let's talk about some renewed private sector pushing to really slash the federal budget. a group called citizens against government waste is calling for nearly $2 trillion in cuts the next five years. doug mckelway is live with the story. doug, how realistic is that goal? >> reporter: how realistic is the goal? not realistic at all. let's be honest about this. at least it is a benchmark we can strive for. citizens again
life to the talks, with vice president biden shopping at new costco in washington, picking up a big screen tv and apple pie and insisting he is optimistic of a deal. >> i am. i am. all the folks in the store, man. going to make a difference. >> carney shot down a politico report that a phone call last night between boehner and the president was curt, noting it was 28 minutes long and productive. signaling the president is flexible on taxes not being specific on the new rates. >> i will say there can be no deal without rates on top earners going up. >> that means that the rates do not necessarily have to go up to 39.6. it could be 37 or 38. meaning they might goose that to try to jump-start the deal with republicans. bloomberg reports that the treasury secretary geithner has been saying look, the sky will fall if we fall off the cliff. he has the power to freeze paycheck withholding levels regardless of how rates change. they can staunch the bleeding from falling off the fiscal cliff if that happens. >> bret: ed, the former presidential candidate mitt romney was at the white house to
experience a severe shock. that is if leaders in washington can't come up with a budget deal. scares of automatic spending cuts and tax increases could take effect january 1st. democrats moved by president obama and congressional republicans signaled they are willing to compromise on changing tax rates and spending reductions but the negotiations are moving very, very slowly. susan mcginnis is in washington with the latest. susan, good morning to you. >> reporter: good morning. the president is sending his top two negotiators to talk with lawmakers today about possible spending cuts. he's also getting ready to take his fiscal cliff message on the road. he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo and behold congress listens. >
anywhere and i'll do whatever it takes to get this done. it's too important for washington to screw this up. now's the time for us to work on what we all agree to which is let's keep middle class taxes low. that's what our economy needs. that's what the american people deserve. >> the white house is also turning to social media in a new twitter hash tag to spread his message. >> today, i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean you to. call your members of congress. write them an e-mail, post it on their facebook walls. you can tweet it using th the #my2k. not y2k, #my2k. >> they showed support for cutting a deal with the president. yesterday the oklahoma republican repeated his belief that congress should start by locking in tax cuts for the middle class. >> in my view, we all agree that we're not going to raise taxes on people that make less than $250,000. we should just take them out of this discussion right now, continue to fight ag
segment of the "washington journal." you can also contact us via social media and email. you can make a comment on our facebook page, and finally send us a tweet. here is the hill newspaper from this morning. g.o.p. forget tax rates in talks on the deficit, let's look at the spending. the speaker's swift rejection of an idea floated by representative tom cole of oklahoma, a respected party strategist and former chair of the house g.o.p. campaign committee came as the republicans voiced increasing concerns over the debate of the so-called fiscal cliff. boehner said it's time for them to get serious about the spending problem that our country has. republicans complain that for all the talk of coming up with a balanced budget plan, he has made little effort to identify specific proposals beyond increasing taxes on the wealthy. "the white house has not produced any of the balance in the president's described balance proposal that peter roscoe, the house g.o.p.'s deputy whip. boehner and the other house republican leaders will meet on thursday with treasury sec tir tim geitner and the whit
during opening day at washington's first costco. >> walking through this store just get foot. calling for guidance. >> good day. i'm andrea mitchell live in washington right now at the white house, the political power lunch of 2012. president obama and mitt romney meeting for the frts time privately since the campaign after having been together serve times overall, including three debates. ruth marcus, and kristin welker. kristin what are they saying about the private lunch? not much, i guess? >> reporter: not a lot, andrea. they're tamping down expectations. jay carney saying there's no formal agenda to this lunch. of course president obama, during his victory speech in chicago, said he wanted to sit down, talk to mitt romney about his views how to move the country forward. you have to assume that would include a robust discussion of the fiscal cliff, given that is what lawmakers are talking about now. mitt romney just arrived here. we're not expecting anything huge to come out of this meeting. no appointment. for example, to the cabinet. but the president certainly, i think, hoping
finnney, and washington bureau chief for "the huffington post," ryan grim. a gradual inching away from the edge of the fiscal cliff, depends on who you believe. even with the clock ticking it's almost two week since president obama and john boehner met in person. nbc news confirms two leaders spoke by phone for 15 minutes last night a call described by politico as short and curt. boehner gave his state on the current talks a moment ago. >> no substancetive progress has been made in the talks between the white house and the house over past two weeks. all eyes are on the white house. the country doesn't need a v victory lap it needs leader. >> behind the scenes of the contours of a deal are starting to take shape, a trillion plus dollars in tax heights, entitlements of $400 billion and 1.2 trillion in spending cuts to offset the dreaded sequester. if the phoners haven't been gabfests the president is chatting up other folks including small business owners, middle class americans and mitt romney-loving ceos. if awkward meetings are par for the course in washington, the president's one tod
with a very busy day in washington and an array of meetings that would put your average speed dating event to shame. as we know, politics sometimes makes strange bedfellows. in this case one unusual lunch day. this afternoon the president hosted his vanquished rival, mitt romney. no word yet on if mr. romney found the cookies up to his rig rouse standards or how many white house beers the president decided to drink. we're also holding out hope that a savvy waiter or waitress caught at least 47% of the lunch on cell phone video. while in washington romney also met with his former running mate, the marathoner paul ryan, and offered a few kind words about him to the press. >> mr. romney, how was your meeting with mr. ryan today? was it nice to see him? >> that's a greet friend. good to be with him. >> good to be with him? >> always great to see paul ryan. >> while today's lunch was perhaps an opportunity to shake after a hard fought campaign, not everybody was feeling so friendly. take for example john bain mother earlier today slammed the president for campaign style events on the fiscal cli
the cameraman and "we have taken them." london and washington may have refused to arm these rebels. but armed they are like never before. >> suarez: and margaret warner takes the story from there. >> warner: for more on today's developments and what they mean for syria's president bashar al assad, i'm joined by andrew tabler, a senior fellow at the washington institute for near east policy. he was in rebel-held syrian border regions in mid-november. andrew, welcome back. >> thank you. >> warner: first of all, how critical is the rebel seizure of some of these surface-to-air missile from the captured army bases? >> they're answer cloutly vital. for months the syrian army has harassed rebel held territories and they've bombed them into submission. with these shoulder-fired missiles they're able to down syrian aircraft of all types and it allows the syrian opposition to have the possibility of actually saying they have a pure liberated territory which is completely outside of the regime's control and that sets the stage for a possible benghazi-like pocket that could push president assad south an
, marijuana whether become legal in the state of washington. voters in both washington and colorado voted to legalize the drug for rec reactireational us. the drug war was a key topic as well during president obama's meeting with the president elect of mexico earlier this week. a country that funnels massive amounts of illegal drugs in to the u.s. each year. a new article in new york magazine takes an in-depth look of the evolving would are on drugs. joining me is the author and military analyst and former drug czar. good to see both of you. good morning. benjamin, absolutely a fascinating article. you point out that there has been a real change in people's opinions. these are the people who are in favor of recreational use. 50% now. it was 40% in 2009, 30% in 2000. clearly the pr war is being lost by people who oppose legalizing drugs. is the war on drugs lost, as well? >> well, there are two different things going on there. first on pot, which is the number that you're talking about, the more striking number for me is actually the funding that went into the campaign if washington which
. there has been a lot of talk here in washington about the deadlines we are facing on taxes and deficits. these deadlines are going to be coming up very soon in the coming weeks. but today's important because i want to make sure everybody understands that this is not just about numbers. it is a set of major decisions that are going to expect millions of families all across this country in very significant ways, and their voices, the voices of the american people, have to be part of this debate. so i asked some friends of mine to join me, some folks from here in the area. our ultimate goal is an agreement that gets our long term deficit under control in a way that is fair and balanced. that kind of agreement would be good for our businesses, our economy, our children's future. i believe both parties can agree on a framework that does that in the coming weeks. my hope is to get this done before christmas. but the place where we already had complete agreement, right now, is on middle-class taxes. we have a two choices -- if congress does not act, every family in america will automatically s
are still being exposed in their own homes. ,, ,,,,,, fiscal cliff. but in washington today, signs of e movement amo >>> just over a month the country to go over the "fiscal cliff" but in washington today signs of some movement among lawmakers. cbs reporter danielle nottingham on how the president is holding their feet to the fire. >>> reporter: president obama is enlisting middle class americans to pressure congress to back away from the "fiscal cliff." >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: he will take his case on the road friday and is asking the public to join a twitter campaign calling on lawmakers to renew tax cuts for families making less than $250,000 a year without delay. >> campaign for his position i did it we understand it but at the end of the day he has to lead on this issue. >> reporter: while congressional leaders meet behind closed doors, some of the biggest names in corporate america are here on capitol hill meeting with lawmakers pushing for solutions. former tennessee governor told lawmakers everything needs to
traveled here from washington, dc from sacramento and all over the bay area. so thank you for being here today. we are grateful for an opportunity to come together with you to create schools and communities where young people are healthy and safe and feel welcome and they are allowed to learn and they are allowed to thrive. this day is devoted to help all of us deepen our understanding of this issue of the problem through data, through research, through anecdotes, to put real solutions in place, to comply with new state and draw laws on bullying and to measure our progress. it's a promise we want to join you in keeping to our children and our youth in california. some of you know that we started this summit yesterday with a screening of the documentary film, bully, to 3,000 students in san francisco from san francisco's public schools. the superintendent of schools you're going to hear from in a minute, he was there, i know ter theresa sparks was there, i was so proud of san francisco in being there because the superintendent, he's, you can tell he's a teacher because
about to happen. >>> tell washington. will lawmakers send americans off the fiscal cliff with a huge tax increase? the president asks middle class people to help make his case for action. >>> triple threat. three big storms, one after the other, about to pound the west coast. >>> and, made in america. do you want to make a difference, creating american jobs? david muir tonight shows us how to do it together for a happy holiday. >> we're in! >> we're in! >>> good evening. right now, millions and millions of americans are lining up to take a chance on a giant dream. a powerball ticket that could be worth more than half a billion dollars. the biggest in its history. the drawing is tonight. and some people have been willing to wait 2 1/2 hours in the long lines in arizona, while coast to coast, tickets are flying across the counters, 130,000 sold every minute. and that adds up to 7 million tickets sold every hour. so, we asked abc's steve osunsami to make his way into the vault where the lottery balls are kept under lock and key and tell us about all the americans hoping toni
bernanke and interest rates and what's going on in washington beyond the fiscal cliff. he's got lots of views. >> does he pull punches about bernanke? >> there's a couple comments i think we'll run in the 7:00 or 8:00 hour, he's diplomatic about it, but if you listen very carefully, i think you know where he stands on a lot of the stuff. he talks about the punch bowl and having to take around the punch bowl before -- >> the lead story in the journal -- >> the fed stimulus. we're back again. >> operation twist is supposed to be up january 1st. >> he's also got interesting theories on the volcker rule and banks still. so we'll be running some of that throughout the broadcast. >>> in corporate news, rio tinto plans to cut cost and sell more assets. and two audit firms are now being sued regarding the acquisition of hp. shareholder law side has named deloitte and kpm claiming they missed numerous red flags. board of directors also named. >> a magnetic lawsuit. you see the press release go out and someone has to boiler plate to say, okay, we're the accountants, we're the bankers, here we
that as fractious as things can be, that the leaders in washington have learned their lesson. that the wrong word can move markets and they will be somewhat careful, that nobody will produce anything like the 500-point selloff in the t.a.r.p. vote. they think there's a minor protection there. nevertheless, we're in an age of auditory lottery tickets. whoever gets to the microphone swings things. >> yet, they believe that, number one, it's coming soon, that something is going to happen in december, and it's going to be a credible plan, something that's a real down payment that won't trigger some kind of ratings downgrade by the agencies. >> well, i think, again, they believe that these guys are chastened enough not to go off the deep end, and for all the talk, it might be go to go over the cliff for a little bit that people really think nobody wants to take that gamble. you don't want your political party becoming a footnote. >> materials, financials, health care all advanced today. a fairly broad advance, even if it was only fractional. back to you. >> all right, bob. thank you so much. we'll see
basement dwellers. if politics is basketball, who would be the washington wizards? >> as you can tell we didn't win the powerball last night unfortunately. but today's show is a slam dunk. let's start the shot clock. >>> for all of you who loved my thursday political baseball metaphors during the presidential election, i've got some great news for you. with the month long debate now set for all of december on the so-called fiscal cliff, and with congress and the president probably waiting till the last minute, we now have basketball thursdays here on "the cycle." score! a tip of the jersey to hall of fame coach steve smith of north carolina. with all the talk and posturing going on, mr. director, do you have our fancy animation on this? he says it's not ready yet. >> why not? >> we'll go back to our preseason graphic. we're calling this, depending on how we feel that day, either the fiscal cliff. boo. the fiscal slope. hmm. the fiscal fiesta, my personal favorite. or the fiscal follies. this is from the boston celtics' game last night. celtic big man kevin garnett was fouled by brooklyn
to get things done here in washington. >> democrats today said they're confident a deal can be reached by christmas. but admit negotiations would need to pick up steam. as for senator reid, he says it's now up to the gop to make the next move. >> we're still waiting for a serious offer from the republicans. the president has made his proposal. we need a proposal from them. >> okay. let's dig in and bring in nbc's capitol hill correspondent kelly o'donnell. fill us in on how the meetings are going so far. last but not least, nancy pelosi coming up. >> exactly. she'll meet within the hour. each of these prooit meetings today an important step to get a sense of where the white house is with the congressional leaders. we don't always get one on one meetings. that may be helpful in moving things along. the political word of the day seems to be specifics. both republicans and democrats are battering the other side saying there aren't enough specific proposals. we're sort of in that moment where the real work happens behind the scenes and the front stage part, the political theater you referr
and do anything it takes to get this done. it's too important for washington to screw this up. >> and john boehner, not to be outdone, put a little early present under the tree too. >> i'm optimistic that we can continue to work together to avert this crisis and sooner rather than later. >> these are pretty glum faces to deliver those presents. no smile from either one of them. but investors didn't care, they're excited about the present, the dow gained more than a full percent throughout the day. will we have a true christmas miracle? courtesy of those two. oh, let's hope that they don't wear those hats. i spoke this evening with republican senator john cornyn of texas, he's the republican whip and member of the finance committee, and i asked him what has he actually done to help get this deal done, not the night before, but before christmas. >> we have said that revenue, is something that the president said he needs, we have made the point that revenue is on the table. even if we were to conceive hypothetically, what the present has asked for, to let the tax rates go up on t
will come along to a deal. vice president biden went to a costco in washington, today, proclaimed himself optimistic there will be a deal and bought a big screen tv and and an apple pie. >>shepard: you mention speaker boehner and the fact is there is a group if his party, the conservative part that doesn't want him to act like he is moving and that is who he is talking to today? >>reporter: they want him to dig in. they want him to completely resist essentially going back to the old clinton administration tax rates of 39.6 percent on the top level. the bottom line when you ask about whether there is any progress there are signs of progress from the white house briefing and carney today said the president said in this phone call to speaker boehner, any deal has to have the rates going up but in the end, carney said it doesn't necessarily, he didn't say this directly but suggested it doesn't have to go up to 39.6 percent but could go up to 37 or 38 so maybe there is wiggle room. >>shepard: thank you, ed. egypt's president is trying to quiet the country after he took almost absolute power an
the national debt, reducing washington spending and preventing a tax hike on every american taxpayer. so, bill, the two sides are talking to each other but it does sound like we are a little ways away from them coming up with anything they would send to the president's desk to sign. bill: a big lunch at the white house too. we'll talk about that in a moment. martha. martha: as these negotiations sort of hammer away in washington, 173 companies have now announced that they plan to payout their special dividends early to shareholders. that includes names like disney and walmart, costco, las vegas sands as well is in that group and it will happen interestingly before the new year when the massive new tax hikes could kick in. stewart varney thinks this is really of note this morning. the host of varne varney & company. >> i'm going to call it a tax revolt. companies are saying, look we are not going to give extra money to the treasury this year. we'll help out our shareholders this year. we'll pay them a lot more money in dividends this calendar year so they can beat the expected tax increase that
is still awaiting for his date on the basketball court with president obama. washington redskins sensation quarterback robert griffin iii tells yahoo news he challenged the president to a game of pickup last year but the president said he would only play if rgiii would be on his team. he hopes to meet him on the court soon. >> bill: i'll bet you they'll be playing soon. >> he should have him over. rgiii is the hottest thing in sports right now. >> plenty of complaints about airline food. one airline trying something new. taking something it knows a lot of people love and putting it in the air. kentucky fried chicken. hop on any japan flight and you'll be able to enjoy kfc in flight. they're trying it first as a promotion for the holidays. if it stays popular they'll keep it up. >> bill: that's just what i missed when i was flying to istanbul, a bucket of kfc. >> the first person i sit down next to on an airplane that's gnawing on a chicken bone, i'm going to shove that bone down their throat! >> bill: how
. look for more conflict later today. >> thank you. >>> the other big news, in washington the white house tryinging to kick start fiscal cliff talks. just 33 days. congress breaks for the holidays in 15 days. >> treasury secretary tim geithner is going to try to get the talks moving today. he'll meet with congressional leaders on capitol hill. let's go to dan lothian live in washington for us. dan, tell us should americans be hopeful something will be done in 15 days? that's before congress goes on vacation. >> let's remind a little bit. it was a week ago when president obama met with congressional leaders before he went overseas. there was a sense of optimism that they could get something done. now it appear it is two sides are still very far apart. so that's why you see the president pushing this tax extension for middle class americans. the president believing this is not necessarily the answer, the comprehensive answer. it's part of the solution. he's been meeting with small business owners at the white house. with big-time ceos as well. yesterday had middle class americans who expres
dan lothian is live from washington this morning. dan, that clock is ticking louder and louder what is the very latest? i hear there are one-on-one meetings happening today. >> that's right. these are the president himself not sitting down and talking with lawmakers, but timothy geithner will be on capitol hill and other senior level members of the administration trying to hammer something out here. this is a complicated process. so far it does not appear the two sides have gotten closer. that's why you see the president pushing hard, first of all through social media, trying to get americans out there to pass the message along, put pressure on lawmakers to get this middle class tax cut extension down. the president sitting down with small business owners, with ceos of major companies, pushing that middle class tax cut message. they don't believe that this is the comprehensive solution, but they believe this is a step towards the final solution, a final agreement to prevent this fiscal cliff scenario. the president saying he believes that this can get done before christmas. take a l
.com stay with us for the up to the minute in tone in washington today -- as the fiscal cliff looms. kron4's political analyst michael yaki is here to talk about it all -- however, only 34 days until the united states faces the our political analyst, michael yaki is on set tobut first let's go to vicki? >> politicians in washington are trying to reach a compromise before the january first deadline. if no deal is reached -- tax increases and effect. president obama says the people need to be part of the fiscal cliff debate. and today, he's taking his message on the road. >> i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. >> but republican lawmakers, question the president's decision to leave washington. >> in other words rather than sitting down with lawmakers of both parties and working out an agreement he is back on the campaign trail presumably with the same old talking points that we are all quite familiar with. >> mister obama assured the public he is doing his part.
to your pbs station from viewers like you. thank you. >> brown: washington was a-whirl today with more talk of avoiding the much-discussed fiscal cliff. but as november wound down, the president suggested an agreement on taxes and spending could come in time for the holidays. >> i believe that both parties can agree on a frame work that does that in the coming weeks. in fact my hope is to get this done before christmas. >> you know me, i was born with the glass half full. i'm an optimist. >> brown: hopeful signs emanated from the white house and the capitol today, about getting a deal before the new year brings automatic tax hikes and spending cuts. president obama offered his optimism at an event with middle-class americans who'd be hit by any tax increase. >> i'm glad to see-- if you've been reading the papers lately-- - that more and more republicans in congress seem to be agreeing with thiidea that we should have a balanced approach. so if both parties agree we should not raise taxes on middle class families, let's begin our work with where we agree. >> brown: one such lawmaker is
determination and cautious optimism yesterday. >> it's too important for washington to screw this up. now is the time for us to work on what we all agreed to, which is let's keep middle class taxes lower. >> time for the president and democrats to get serious about the spending problem that our country has. but i'm optimistic that we can continue to work together to overt this crisis. >> politico also reporting that the two men had a phone call yesterday that was, quote, curt. can these two men with a history of butting heads meet in the middle before america goes over the edge? >> we have a very, very reasonable chance of going over this cliff. every hour is ticking by, every day is ticking by. >> i think when this gets played out at the end, they'll get right up to cliff on new year's eve, we'll all be hugging cliff and giving cliff a kiss on the cheek. >> from the capitol to the white house, get who is coming to lunch. mr. romney goes to washington. he'll dine today at 1600 pennsylvania avenue at the invitation of the president himself. the question, is there a grander purpose behind t
-- >> that is the problem with washington right now we have such a short term view. we need to look at long term policies get us on the path to long term prosperity rather than putting a bandaid on the situation and getting one or two quarters of positive growth. liz: dan, if we did something like that, can you honestly say, democrats say that is all nice and good but the math doesn't work. if we eliminate all the deductions and we go to a tax code that is so much more straightforward and is more simple they will raise less revenue and we'll be in deeper hole. what do you say to that? >> this is the problem. nobody in america or very few people anyhow trust politicians in washington. what they're talking about right now is a perfect example. they're not talking about getting rid of these deduction shuns as part of a process giving us a simple and fair and noncorrupt flat tax. they're talking about getting rid or capping deductions so they get more money to waste. math adds up perfectly if we ruse money for tax reform. 31 countries in the world have flat taxes. they're working very well but we know that c
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